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Apple Names Ternus CEO, Shifts Production to Texas, Arizona

4/29/2026

38 6 Full Breakdown

Summary

Cook Hands Over

U.S. Secretary of Commerce Howard Lutnick met Apple CEO Tim Cook in Washington on April 28, 2026, when Cook said he will hand the CEO role to hardware chief John Ternus on September 1, 2026.
Apple will assemble the Mac mini in Texas and buy over 100 million chips from TSMC’s Arizona fabs in 2026.
Lutnick warned semiconductor firms of possible tariffs if they fail to meet U.S. domestic sourcing goals.

Summary

Cook Gifts Trump

Tim Cook attended a White House ceremony on April 28, 2026 where King Charles III addressed Congress.
Cook disclosed a $1 million donation to President Donald Trump’s 2025 inaugural fund, pledged Apple’s $600 billion U.S. investment, and presented Trump with a custom glass plaque on a 24-karat gold base.
Trump praised Cook publicly, calling him a longtime fan and joking that Cook had “kissed my ass” to secure assistance.

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Cook Hands Over

U.S. Secretary of Commerce Howard Lutnick met Apple CEO Tim Cook in Washington on April 28, 2026, when Cook said he will hand the CEO role to hardware chief John Ternus on September 1, 2026.
Apple will assemble the Mac mini in Texas and buy over 100 million chips from TSMC’s Arizona fabs in 2026.
Lutnick warned semiconductor firms of possible tariffs if they fail to meet U.S. domestic sourcing goals.

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